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WorksheetsFinancial Planning 101
Total questions: 30
Worksheet time: 16mins
Why should you manage your money?
Retention and growth of wealth
It is fun
You do not need to
You like financial stress
How can you better prepare for your future?
Spend all income
Invest for retirment
Give money to charities
What are benifets of managing your time?
Loss of sleep
Stress relief
Better job
Better cognitive decisions
Why should the result of your goals be?
Action
Procrastination
Talk
Dreams
What do goals provide?
Identical lifestyle
Time
Built in accountability
Lack of direction
What is a product of goals
Anxiety
Hope
Confidence
Fear
Why should financial goals be measurable?
So you can reach it whenever you want
So you can check in on where you're at
So you can brag about how you did
What is a SMART goal
Specific, Measurable, Achievable, Relevant, Timed
Sampled, Measurable, Action, Reliable, Tame
Specific, Measurable, Able, Recent, Trendy
Smart, Measurable, Achievable, Relatable, Timed
What is your track record called to get a job?
Employee History
Track Record
Resume
Transcript
What is the purpose of a financial plan?
To decide what job you need to get
Determine your income
To provide a roadmap for your finances
Find the right school
Your goals should...
Be flexible with life
Be set in stone
Non-existent
Not relate to money
What part of a budget should be the highest expense?
Insurance
Utilities
Housing
Food
What items would the recreation portion account for?
Food
Video Games
Clothes
Insurance
What is the result of mismanaging money?
Early Retirement
Debt
Financial Freedom
Prosperity
What items would account for a give portion of a budget?
Church Offering
Sports Tickets
Concerts
Eating Out
Where should surplus money in a budget go?
Child's allowance
Savings
New shoes
Special dinner
How much of your income should be spent on rent?
2/5
1/2
1/3
1/5
What does the 30% rule not account for?
Taxes
Inflation
Other needs
What is not a reason why you should spend 30% on rent
The cost of living is low
Free public transportation
Apartments are Very Expensive
You have a roommate
Where should you look for an apartment?
Websites
Newspaper
Bulletin Boards
All of the above
True or False: Parking is always provided at apartments
True
False
True or False: Only one week is usually needed to find the best apartment.
True
False
True or False: Once you move in there will be future expenses besides rent.
True
False
True or False: Once moved in the first thing you should do is a deep clean.
True
False
True or False: The best way to buy furniture is to buy it brand new.
True
False
True or False: Some apartments come already furnished.
True
False
True or False: A lease is legally binding.
True
False
True or False: Apartments usually require a fee to own a pet.
True
False
True or False: College students need renters insurance.
True
False
True or False: Homeowners insurance only covers the building, not its contents.
True
False
